Voltas Limited has reported that it has received a Show Cause Notice (SCN) from the Customs Department under the Customs Act, 1962, alleging that the company has short-paid customs duty amounting to Rs. 24.81 crore on certain imported items.
The notice is dated April 1, 2025, and was received by the company on April 16, 2025. It was issued by the Office of the Commissioner of Customs (NS-III) at the Jawaharlal Nehru Customs House (JNCH), Nhava Sheva, located in Raigad, Maharashtra.
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According to the company’s report, customs officials have asked why the amount of Rs. 24.81 crore should not be recovered from Voltas, along with interest and penalties, for the alleged duty shortfall.
Voltas has stated that it is evaluating the notice carefully and will submit its reply within the legally prescribed time period. The company added that it is handling the matter in accordance with applicable laws and procedures.
Voltas Limited is a well-known Indian company engaged in engineering solutions and air conditioning services. The company stated that this update is part of its regular practice to keep shareholders and investors informed about significant legal and regulatory developments.
As of 4:00 PM IST on April 17, 2025, the share price of Voltas Limited (ISIN: INE226A01021) closed at Rs. 1,284.90, registering a gain of Rs. 6.90 or 0.54% compared to the previous closing price of Rs. 1,277.10.
The stock opened the day at Rs. 1,280.10, touched a high of Rs. 1,294.60, and fell to a low of Rs. 1,263.10 during intraday trading. The Volume Weighted Average Price (VWAP) for the day stood at Rs. 1,280.04.
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